With a 1.3% annual decrease in GWP, the Serbian insurance market mirrored the recession challenging the country in 2012. The mentioned decrease rate corresponds to the market figures denominated in European currency and is obviously affected by the 8% depreciation of the Serbian currency in relation to Euro. Thus, in Serbian Dinars, the insurance market showed a positive evolution last year, of 7.2%.

The total GWP amounted to EUR 540.5 million, with EUR 7 million less than in 2011, while obviously the growth recorded on the life insurance segment couldn't offset the continuous fall in the motor insurance business.

The downward trend installed five years ago on both motor insurance lines continued also in 2012, with a 4.9% decrease on the MTPL class, to EUR 170 million, and an 11% fall of the Motor Hull business, to EUR 61 million. On the paid claims side, insurers' expenses for the motor claims have also decreased by about 11%, to a total sum of EUR 113 million.

Property insurance, the second important non-life segment, recorded an almost 8% growth in local currency while in Euro, the figures remained close to the 2011 results with a total GWP of EUR 120 million.

Life insurance witnessed a quite impressive increase in premium - 18.6% in RSD, 9.2% in EUR -, to a total amount of EUR 104 million, but its share in the market portfolio remains still under the 20% threshold.

Access www.xprimm.com and download the FY2012 Serbian insurance market statistics.

Market portfolio (in EUR and RSD):

• Gross written premiums
• Paid claims
• Growth rates
  

Market rankings (GWP/Claims/Market shares - in EUR and RSD):

• Total market ranking
• Life insurance ranking
• Non-life insurance ranking